Kotak Nets US$90 Million For Infrastructure P.E. Fund

Mar 14 2013 | 10:40am ET

India’s Kotak Mahindra Bank has raised more than one-third of the US$250 million it hopes to garner for an infrastructure private equity fund.

The Mumbai-based bank said this week that it had raised US$90 million for the Core Infrastructure India Fund, which will invest in power, water, waste management and gas companies in the subcontinent. India’s government has said the country needs as much as US$1 trillion in infrastructure investments over the five years between April 2012 and March 2017.

Kotak’s Singapore unit will manage the new fund, which debuted in 2011.

Kotak itself has put up some of the fund’s initial capital, and has won commitments from a Brookfield Asset Management affiliate, Japan Bank for International Cooperation, Mitsui Banking Corp. and an unidentified insurance company, The Wall Street Journal reports.

Kotak said it hopes to raise a further US$160 million for the fund by next year.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note